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ExxonMobil Ships First Cargo From PNG LNG Project

|Includes: OISHF, STOSF, TKECF, Exxon Mobil Corporation (XOM)

ExxonMobil has shipped its first LNG cargo from the PNG LNG Project to Japan's Tokyo Electric Power Company.

PNG LNG will also provide a long-term supply of LNG to major customers in the Asia region including Sinopec, Osaka Gas Company and CPC Corporation.

PNG LNG is expected to produce more than 9 Tcf of gas over its estimated 30 years of operations. Production from the first train started in Apr-2014 and production from the second train has also started as additional wells came online.

Ownership of PNG LNG: ExxonMobil (33.2%, operator), Oil Search (29%), Santos (13.5%), Nippon Oil (4.7%), PNG Government and landowners (19.58%).

In Apr-2014, the PNG LNG project started production ahead of schedule.

In Feb-2013, PNG LNG's offshore pipeline was completed and connected to onshore facilities.

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